The Bengaluru-based insurtech firm entered the coveted club with a valuation of $1.9 billion. Indian insurtech firm Digit Insurance on Friday, January 15, announced that it has entered the coveted unicorn club after raising US$18.5 million from existing investors. Valued at $1.9 billion, the [...]
Hong Kong (Oct. 22, 2019) – WHub, DBS Hong Kong and HKECIC (Hong Kong Export Credit Insurance Corporation) are jointly hosting the FinTech Week Hackathon 2019 (1-3 November 2019) , a satellite event of this year’s Hong Kong FinTech Week (4-8 November 2019). Spanning 36 hours, the hackathon aims to promote innovation and technology to accelerate the digital transformation of the finance and insurance industry in Hong Kong.
The FinTech Week Hackathon 2019 is open to all startups, entrepreneurs, coders, developers, designers, marketers and university students. With the support of industry experts and representatives from DBS Hong Kong, HKECIC and WHub, participants will have 36 hours to design and develop innovative solutions (existing solutions allowed*) to address business challenges in the area of FinTech and InsurTech with the application of, but not limited to, Artificial Intelligence, Machine Learning and Blockchain technologies. Winners will receive a cash prize and tickets to the Hong Kong FinTech Week, with the possibility to further develop and implement their ideas into POCs with the organizers.
In Hong Kong, DBS, the first bank in the world to hold three of the most prestigious global best bank honours at the same time, and twice named World’s Best Digital Bank by Euromoney, is pioneering efforts to transform the way banks serve, engage and interact with customers through FinTech innovation.
“As a startup community, we would like to promote innovation among the startups and the younger generation, who are the future of Hong Kong, by allowing them to contribute to the development of the city. We are happy to collaborate with DBS Hong Kong and HKECIC to accelerate innovation and facilitate the development of the FinTech community in Hong Kong,” said Karen Farzam, co-founder of WHub.
FinTech Week Hackathon 2019 will take place at Kafnu Hong Kong in Hung Hom. To register and for any general enquiries, please visit: https://hackathon.whub.io/ or contact [email protected]
* Existing solutions allowed: Participants must have the rights to use the code or outline which code is not commercially available for use. We do not need or expect participants to build everything from scratch.
For media enquiries, please contact:
WHub is Hong Kong’s startup community platform and power connector, passionate about fostering the growth of startups and the entire tech innovation ecosystem. WHub provides a full service offer centered around three pillars: Showcasing, Connecting and Education. This includes services such as talent recruiting, corporate and startup co-innovation programs and support to governments in building thriving tech innovation ecosystems. Services are not only provided on-line, but also offline, examples include WHub’s Startup Ecosystem whitepapers shared globally, as well as programs, events & workshops such as hackathons and conferences including Startup Impact Summit, culminating the annual StartmeupHK Festival supported by InvestHK. WHub has started expanding geographically in order to build bridges between startup ecosystems around the world and accompany startups to scale internationally.
For more information, you can follow us on LinkedIn, Twitter, Facebook or visit whub.io.
The HKECIC was established in 1966 under the Hong Kong Export Credit Insurance Corporation Ordinance (Chapter 1115). Through the provision of export credit insurance services, the HKECIC protects Hong Kong exporters who trade on credit terms with overseas buyers against non-payment risks and helps them conduct export business in a prudent manner. The HKSAR Government provides a guarantee of $55 billion for the HKECIC’s contingent liability.
The HKECIC provides a wide range of insurance facilities to Hong Kong exporters of both goods and services. The facilities cover two main types of non-payment risks for goods exported and services rendered arising from buyer risks and country risks. The facilities cover not only exports shipped and re-exported from Hong Kong, but also those transported directly from suppliers’ countries to their destination without passing through Hong Kong. The indemnity provided is normally 90% of the loss incurred. Insurance policies issued by the HKECIC are accepted by the banking community as useful collateral for discounting export bills. The protection accorded to a policyholder may be extended to the policyholder’s bank by a Letter of Authority, which enables claims to be paid directly to the bank and can be instrumental in helping policyholders obtain the banking facilities they need.
For more information, please visit www.hkecic.com.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 27,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.